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Tuesday, 23 July, 2024

Get a Debt Consolidation Loan to Combine All Your Debts into One Payment!

Do you have multiple credit accounts with retail stores, or loans with banks and other lenders that you're struggling to pay each month? Juggling funds to maintain regular payments on multiple accounts each month can be very stressful, and if not managed properly it could severely damage your credit record and your ability to obtain further credit in the future.

Applying for a debt consolidation loan through Hoopla Loans is a smart way to effectively combine all debt that you currently hold with your other creditors into one single loan. The purpose of a debt consolidation loan is to reduce your overall monthly repayments by paying only one single payment to one lender, at a substantially reduced interest rate as well as over a better repayment period.

You can apply for R100 to R250,000 today using our online loan application form. We are happy to take bad credit scores into consideration and there are no fees for applying. Simply click on the button below to check your eligibility!

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Key Features

  • Borrow R100 to R250,000
  • Repaid typically over 3 to 60 months
  • Consolidate all existing debts into one single loan
  • Save money and eventually become debt-free
  • Completely online application
  • Same day funds available
  • Bad credit considered

What Are The Benefits of Debt Consolidation Loans?

If managed properly, a debt consolidation loan can bring immediate financial relief by drastically reducing your monthly expenses as well as improving your overall monthly budget. Importantly, it will help you to also free up extra funds that can be used towards priority expenses such as living costs.

By having lower monthly expenses means that you will be less likely to default on your payments, which means that you will not only pay your debt off quickly but you will also be keeping your credit record in good order.

How To Apply for a Debt Consolidation Loan with Hoopla

Applying for a debt consolidation through Hoopla Loans is quick, safe, and easy. Simply complete our application form online and select the total amount that you would like to borrow. This amount must be the same as the total amount of your existing debt.

If your application is successful, one or more of our lenders will contact you to discuss how you would like to structure your loan and to consolidate your debt.

Once your loan is finalised, the lender will pay the funds into your bank account. Upon receiving the funds you will need to immediately settle all your existing credit accounts in full, and preferably close them off.

Once you have settled your existing debt with the funds from your new loan, it is crucial that you do not incur any additional debt since this could make it hard to pay off your debt consolidation loan and cause further financial difficulty.

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Am I Eligible for a Debt Consolidation Loan?

  • Over 18 years of age
  • SA Citizen or Resident with ID number
  • In permanent employment
  • Earn a monthly income of R4,000 or more
  • Not currently under debt review
  • Agree to a credit check

Do You Offer Debt Consolidation Loans for Bad Credit?

Yes, we offer debt consolidation loans for people with bad credit histories - and this is a very common product for people with poor credit scores.

With this type of product, you are able to consolidate all your existing debts into one single, more manageable loan.

This is popular for people who have a lot of debt outstanding or want to save money by putting them all into one loan at a lower interest rate.

The lenders we work with are very experienced and always happy to offer loans for people with bad credit - and we are delighted to help you find the best rates and most affordable option today.

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How Do Repayments Work?

Your repayments for a debt consolidation loan will be made in equal monthly instalments for the entire loan duration, usually over 3 to 60 months. The idea is that the repayment amounts are low, manageable and affordable so that you can pay them off and eventually become debt-free.

By repaying equal amounts each month, you can plan effectively since you know exactly how much you are going to repay.

You will also have the option to repay your loan early, at no extra charge. This can also save you money since you will be paying less interest overall.

How is Hoopa Loans Different?

At Hoopla Loans, we are a licensed credit broker and we work with a number of trustworthy and legitimate companies including online lenders, banks and unions to help find the best loan for you.

We do not charge any fees for using our service and our role is to match your loan requirements with the lender who is most likely to approve you and offer the best rates possible.

You can have peace of mind that we work with direct lenders only who are licensed by the National Credit Regulator (NCR) - and we will not pass on any details without your permission.

We offer a fast, simple and free online application form and you can receive a decision in minutes. If approved, you can receive funds on the same day of applying or within just a few days. To check your eligibility, simply click on the button below.

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